Change In Main Object Clause


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The Memorandum of Association (MOA) of a Company has object clauses that determine the purpose and range of activities of a Company i.e., the business/purpose for which the Company is incorporated and any other matter considered necessary in furtherance thereof. After incorporation of a company, it may want to change object clause. This requires alteration in the MOA of the company and section 13 of the Companies Act 2013 covers the same. Objects are the part of Memorandum that defines the objectives of the Company for which it is being formed. Ever clause on the MOA can be altered (with the exception of capital clause which requires an ordinary resolution to be passed) by passing a special resolution as mentioned in section 13.

 

The MOA of the Company consists of the following clause – Name Clause, Registered Office Clause, Object Clause, Liability Clause and Capital Clause. The Company cannot operate beyond its object clause. In any scenario, no company can act against the provisions of its Memorandum, and if it does so, such transaction will be ultra vires and hence void. During the company registration process, the shareholders decide the objects for which the company is formed. If there are changes to be made to the objects during the course of operations, shareholder approval and MCA approval would be required. A Company can alter its object clause either by way of addition, deletion, substitution, modification or in any other way.

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Documents required

PAN Card

Self attested PAN Card issued by I.T. Department

Aadhar Card

Self attested Aadhar Card issued by UIDAI

Id Proof

Self attested id proof (Voter ID/DL/Passport)

Address Proof

One month Bank statement/ telephone bill

Photographs

A latest passport-size colour photographs

Utility Bill

Latest electricity bill with NOC/ Rent Agreement

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